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CORPORATE & OTHER LAWS

07/07/2014

Super regulator might soon become a reality; roadmap on FSLRC soon
In wide-ranging changes to the way the financial sector functions and is regulated, the government might soon lay out a road map for implementation of certain recommendations made by the Financial Sector Legislative Reforms Commission (FSLRC), including creation of a Unified Financial Agency.However, many provisions suggested by FSLRC might be watered down, including for matters where appeals can be filed with a unified Financial Sector Appellate Tribunal (FSAT), to avoid any abuse of the new law, according to sources.

Source : http://www.business-standard.com/article/finance/super-regulator-might-soon-become-a-reality-roadmap-on-fslrc-soon-114070600412_1.html